All Forum Posts by: Nicholas Davaul

Has the Strategy Planners been shipped/sent out?   I ordered well before the deadline to have the Planner included, but I haven't received the planner yet.    I have received the book, which is AWESOME!   However, I haven't received the planner.

Depends on "who" is your avatar is...  If you're going for MTR for the medical field (traveling nurses, Occupational Therapists, Physiscal Therapists, Doctors, etc...) you'll want to have your MTR next to (or very close ~15-20 minutes) from a Level I or Level II Trauma center.    Compare Trauma Center Levels here.

If that's the case, you're in luck as Galveston DOES have a Level I center.  Which is the Trauma center you'd have the best results in.

Is there a replay of the Webinar??  I'm not seeing anything in the Pro area

Miguel, Just send you a request

$35K for down pmt, closing costs, minor fixes would be really tight.   You didn't mention it, but what I'm not seeing $$$ dedicated to is FURNISHING the property.  

I'd focus on saving up MORE $$$, looking at creative financing, or arbitraging.

However, if you can/do manage to get a property, closing $ and Fixing $ for the $35K, you MIGHT look into "renting" the furnishings for the home and have the $$ from the STR pay for it until you can buy everything outright. I have a few friends that have done just this for thier MTR's. They used a website www.cort.com.

I think points are a secondary benefit of purchasing the material.  However, there are Pro's/Con's for each side of the coin.   It really depends on what type of "long term" relationship/trust you have with your contractor.   Maybe at first, you shold be the one purchase the materials, then after a relationship has been forged, and trust has been established,  you could move to the contractor buying.

Some reasons you SHOULD (at first buy the materials)

Cost Transparency --> When the owner purchases materials directly, they have a clear understanding of the actual cost of each item. This transparency helps in budgeting and reduces the likelihood of hidden markups or fees that contractors might include when procuring materials.  (THIS IS A BIG REASON FOR YOU TO BUY AND NOT THE CONTRACTOR)

Quality Control --> Owners can personally select materials based on their preferences and quality standards. This direct involvement ensures that the owner gets the desired level of quality and can inspect the materials before they are used in the renovation, reducing the risk of subpar products being used.

Limited Customization --> If the contractor is in charge of material procurement, you might have limited control over the specific brands, styles, or features of the materials used. This can be a drawback if you have particular preferences or if customization is a crucial aspect of your renovation plans.

Potential for Miscommunication --> Allowing the contractor to handle materials introduces the potential for miscommunication regarding your preferences. Without direct involvement in the selection process, there's a risk that the final choices may not align perfectly with your vision for the project.

However, the "Pro's" of having them purchase the materials are:

Streamlined Project Timeline --> Allowing the contractor to purchase materials can expedite the renovation process. They are experienced in sourcing materials efficiently and managing logistics, potentially saving time compared to the owner handling the procurement. This can be advantageous, especially when time is a critical factor in your investment strategy.

Reduced Owner Responsibility --> Having the contractor handle material procurement can alleviate the owner's responsibility for coordinating deliveries, managing inventory, and dealing with potential issues related to damaged or incorrect items. This option might be preferable if you prefer a more hands-off approach to the renovation process.

Contractor Relationships and Expertise --> Some contractors often have established relationships with suppliers, which can lead to volume discounts or preferential treatment.  Or they know where better "price deals are", allowing the contractor to procure materials leverages their expertise in choosing appropriate, quality materials for the project. This can be beneficial, especially if the contractor has a track record of successful projects and reliable material choices.

Consider these options based on your specific preferences, time constraints, and the level of control you want over the renovation process as a real estate investor, or if you have a "SOP" of exactly what to buy (Brand, Color, Quality, Shape, Size, Store, etc...) you can give that to the contractor.

A few reaons:  Anonymity,  Asset Protection, Baseless lawsuits that have happened to my friend with his real estate,  seperate business/personal assests/liabilities.   But mainly, it's for privacy/anonymity.

But it wouldn't be just one LLC, it would be two.. A Wyoming LLC, and that manages/owns the Texas LLC (Where I will have my properties).,

i've heard/read/listened to Pro's/Con's for each side.  Some think they are needed, some don't.  

Hello Edwin,

Not saying Youtube is by any means the definitive answer.  But I've been following Clint Coons, Esq. from Anderson.        He is a partner in the company and a real estate investor.  He provides amazing content on Entity Structuring.
 

Do a search on Clint Coons, Flipping Entity Structure

Hello Damon,

It's great to see Local (and Surrounding) people from H-Town in here.   While I don't do anything with wholesaling, I do/can provide help as a Private Money Lender for you.  

 Also, if you come across any small multifamily, in B neighborhods, let me know.

Hello @Nate Marshall, I would like to know if I could reach out to you to get more information on the 2x companies that you mentioned above. Looking to create a WY holdings LLC, and my TX LLC to hold my soon-to-be first property.